Hong Kong Polished Imports Climb

RAPAPORT... Polished-diamond imports to Hong Kong increased 11% in the
third quarter, according to data from the Diamond Federation of Hong Kong,
China. The average price of imports jumped 15%, offsetting the lower volumes —
a trend that reflects a shift toward higher-value goods among traders.
Polished imports grew 6% for the year to date, while exports to mainland China
climbed 12% to $2.58 billion

Hong Kong Diamond Trade Data for 3Q 2018

$ Millions unless stated otherwise

July-Sept 2018

Year-on-year change

Polished imports

$5,206

11%

Polished exports

$3,805

6%

Net polished imports

$1,401

25%

Rough imports

$423

12%

Rough exports

$573

4%

Net rough imports

-$150

Deficit decreased 15%

Net diamond account

$1,251

32%

Polished imports: volume

4.9 million carats

-4%

Average price of polished imports

$1,072/carat

15%

Jan-Sept 2018

Year-on-year change

Polished imports

$14,921

6%

Polished exports

$10,498

2%

Net polished imports

$4,423

18%

Rough imports

$1,470

32%

Rough exports

$2,091

7%

Net rough imports

-$621

Deficit decreased 26%

Net diamond account

$3,802

30%

Polished imports: volume

15 million carats

3%

Average price of polished imports

$993/carat

3%

Source: Diamond Federation of Hong Kong, China; Rapaport
archives

About the data: As an important consumer market and gateway to China,
Hong Kong is a net importer of polished diamonds. As such, net polished
imports — representing polished imports minus polished
exports — will usually be a positive number. Net rough
imports — calculated as rough imports minus rough exports
— will also generally be in surplus. Hong Kong has no operational diamond mines
but has a manufacturing sector, so it should normally ship more rough in than
out. The net diamond account is total rough and
polished imports minus total exports. It is Hong Kong’s diamond trade balance,
and shows the added value the city creates by importing — and ultimately
consuming — diamonds.